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Morning Gold & Silver Market Report – 3/21/2014

GOLD OUTPERFORMING EVERYTHING IN 2014

Precious Metals are mostly higher in early-morning trading. After a rough year in 2013, “Gold is beating nearly every investment this year,” according to MarketWatch. Mike McGlone, head of research at ETF Securities, said, “The world’s primary asset measure, the S&P 500, reached all-time … highs in 2013. When the S&P 500 moved above the old high near 1,550 in March 2013, the Gold correction accelerated, [but] to the extent that the S&P 500 does not go up, or corrects, and/or underperforms expectations, Gold should remain a primary beneficiary.”

Economists Peter Schiff and Mark Dow disagree on the future of Gold. Dow believes that sentiment for Gold is mixed, which makes it difficult to predict where Gold will go next; however, Peter Schiff said, “I still think the sentiment is quite negative on Gold. Maybe not as negative as it was, but very few people believe in this rally … so I think the sentiment still favors higher Gold prices. The fundamentals have favored higher Gold prices all along. It's just that most people don't understand how great [the fundamentals] are. They believe the myth of the U.S. recovery. They believe the [U.S. Federal Reserve] can actually unwind its balance sheet, that it can end [quantitative easing], that it can raise interest rates and that the economy is going to keep on expanding. None of that is going to happen. It's all fantasy.”

At 9 a.m. (ET), the APMEX Precious Metals spot prices were:

  • Gold, $1,339.50, Up $7.00.
  • Silver, $20.46, Down $0.01.
  • Platinum, $1,441.50, Up $4.70.
  • Palladium, $791.70, Up $20.10.

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Disclaimer:
APMEX’s ‘Market Reports’ provide our readers with a review of spot price activity and some of the factors that may be affecting the market for precious metals, three times during the trading day. While the information is obtained from sources we believe to be reliable, we do not guarantee its accuracy or its completeness and we encourage you to conduct your own investigation prior to making any decision based on the information. The "News and Commentaries" are not intended as a comprehensive discussion and there may be other factors that may be affecting the financial marketplace. These "News and Commentaries" are provided for informational purposes only and do not constitute a recommendation by APMEX to hold, to purchase or to sell any precious metal product. All orders, all purchases and all sales, if any, are subject to the terms of the User Agreement and other applicable policies.

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